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Rams Full Doc Rates:1 Year Fixed (p.a) 4.99%(-0.30%)2 Year Fixed (p.a) 5.29%(-0.20%)3 Year Fixed (p.a) 5.79%(+0.20%)4 Year Fixed (p.a) 6.29%(n/c)5 Year Fixed (p.a) 6.49%(+0.5010 Year Fixed (p.a) 7.09%(+0.90%)
cheers
Rams 1 & 2 yr fixed rates were reduced but 0.3 and 0.2% respectively, 3, 5 and 10 yr were increased by 0.2, 0.5, and 0.9 and no change to 4 yr.
over-reaction IMO Richard, and Franchise is sure to follow in the next few weeks
this will effect a lot of people, from first home buyers to people working in credit
will be interesting to see the knock-on effect in the next couple years…95% is still around
be honest…if you forgot to pay a telco bill or credit card then state that. telling a sob story won't get you that far…lenders will have heard it all….
The next bank will only see that you've applied for finance through ANZ, not the declinal. They will make their own decision.
Rams will do 95% plus lmi against vacant land, but you need 5% genuine savings…and yes you can construct later
low doc 80%
are you an offshore borrower?let me know if you want further info..
Cheers
Ray
Sign of the times Richard
Richard, when is the cut off date for St George 100% loans?
John, you can still go through Rams until 9th April for 100%/no deposit but it needs to be through the Franchise channel only. If you want further info send me an email as I know lots of good Franchises and if you get a pre-app before the 9th you will be ok….
Cheers
RayRAMS still offer the 100% no deposit, just only through the Franchise channel. They have reduced to 95% max through the broker channel only at this stage. 100% is still available through RAMS…no use for you brokers out there though
Ray
Yes there is still bad stigma attached to the name and many people still associate it to the old Rams or RHG which is fair enough…pitty though as Westpac RAMS is completely different
PosEnterprises wrote:Yeh I to was with RAMS until they rammed me to RHG – Now only 6 months before i refinance away from these creatures!I would not go to RAMS only to the big 4 alot more stable.
As stated above:
RAMS fully owned by Westpac – Westpac funds are used – Even the Mortgage Docs Stipulate Westpac banking Corporation. How is RAMS not stable being owned by Westpac? lol….again, RAMS is not the old Rams or RHG…move on…
Hi Craig
pro's are that you can borrow often up to 105% of the purchase price, you avoid paying lmi as the overall lvr is 80% and no need to save for a deposit. a limited guarantee is taken over your family/parents home so they're only liable for that amount and can usually apply to have this released after a certain amount of time. if your parents home has a mortgage they'd need to refinance to the lender also. there are some good family equity loans around. here's a link to Rams fast Track product as a starting point http://www.rams.com.au/default.asp?page=/home+loans/all+our+products/rams+fast+track
let me know if you want to discusscheers
Hi Boost
At 100% lvr, FHOG will cover the lmi and costs so you won't require any savings.
Or you could consider 97% and capitalize lmi, and the grant will cover the 3% and costs
Loan serviceability at $350k will not be an issue for you with your good income and minimal debtsas for lenders, Rams does 100% lvr at 5.69%.
For rates with other lenders, i'm sure others on here will let you know…
if you want help with Rams let me know..good luck..
at 80% lvr on a standard product you wouldn't pay LMI. From a lenders point of view at 80%, funds to complete can come from any source..savings, redraw on another loan etc..
you may need to pay lmi with your current lender on the increase though depending on your exposure…
did i say ALL???
no
as Terry stated, pre-apps will always be subject to valuation, LMI acceptance (if required) and any other conditions the lender places on the application and requires before formal approval. A pre-app says you can afford 'x' loan amount based on info provided but does not guarantee you have finance until all conditions are met.
ecl
have also been looking at Sydney West…Rams will do 100% for investment purchase (or 97% plus LMi) if you have 20% equity in your existing property, otherwise can do 95%+ lmi.
i think most lenders will look for the 20% equity in existing property for 100%.
if you want to consider Rams let me know
cheers
Hi Wrap, those paid defaults would be acceptable under Rams policy at that LVR and loan amt.
ABN 2 years and GST reg (earning > $75k)Let me know if you want rates
CheersHi Wrap, yes there are lenders who will consider depending on size of defaults. Rams for one will consider, maybe some of the brokers on here can let you know other lenders.
Let me know if you need help with Rams
Cheers
